February 2014

Houston is not at risk of a housing bubble, but ahousing shortage,
according to industry watchers.That's the view ofTim
Welbes, president of the Woodlands Development Co., who spoke Friday at the
Woodlands Area Chamber of Commerce Economic Outlook Conference. Welbes said that
based upon projected population increases, Houston will need 77,000 new
single-family homes in 2014. Homebuilders are expected to build about 28,000 new
homes this year, resulting in a shortage of about 50,000 single-family
homes.